Which of these is the BEST definition of GDP?

A)

a description of the quality of life in a nation

B)

average value of production of intermediate goods

C)

a collection of all government assets that could earn money

D)

market value of all goods and services produced in a country

The option (D) is correct. the market value of all goods and services produced in a country is the best definition of GDP.

Further Explanation:

Learn more:

Gross Domestic Production:

Gross Domestic Production is the market value of all the goods and services that are produced within the Gross of the country. GDP is a measurement of the health of a country's economy. The higher GDP is favorable as it states that the country is producing a higher level of goods and services. domestic production a yearly basis. GDP increases when the production of the goods and services in a country for a given boundaries increases. GPD growth is an important aspect of the growth of an economy. GDP is used to determine the size of an economy. USA is the biggest economy as per GDP.

Thus, the market value of goods and services produced in a country is considered as Gross Domestic Production.

Answer details:

Grade: Middle School

Subject: Economics

Chapter: Gross Domestic Production

Keywords: definition, GDP, a description, quality, of life, in a nation, average, value, production, intermediate goods, collection, government, assets, that could earn money, market value, goods, and services, produced in a country, gross domestic production, economics, production.

Best answer: D) market value of all goods and services produced in a country

GDP stands for "Gross Domestic Product." As defined by investopedia, gross domestic product is "a measure of the monetary value of the goods and services that country produces in a specific year." Calculating gross domestic product includes many aspects of a nation's economy. It counts consumer spending as well as business investment and government spending, and the value of a country's net exports (the value of exports over against the value of imports).